Frogs can develop extra limbs in the wild.
Moral: Sometimes a surplus can complicate things.

Let’s be clear. We don’t cover extra limbs, no matter how cute the frog is. But, we are the largest licensing service in the country offering our clients a specialized Surplus Lines Tax Filing & Reporting service.

With the passing of the Gramm-Leach-Bliley Act, producers can now secure nonresident Surplus Lines (or Excess Lines) licenses in most states. While this can be a great opportunity for many companies, it also means new licensing issues for every state involved. More policies, more regulations, more filing, more money and more headaches!

Centralize Your Reporting
Whether you or your corporate entity has produced surplus lines business or not, in most states, a Surplus Lines report is still required. Our system ensures that Surplus Lines reports are completed on time so you avoid hefty fines, penalties and interest, and the administrative actions associated with late submissions.

ILSA’s dedicated Surplus Lines Tax Filing team consists of Surplus Lines Tax Filing and multi-state placement specialists. As a member of this service, you would gain 24/7 access to ILSA’s Surplus Lines submission website that displays the most current state forms and tax rates. We have also developed an allocation template to ease the hassle of figuring the taxes on complex placements involving multi-state exposures.

How it Works
Once your customer service representative submits a filing request, we complete all of the appropriate paperwork required by the state using your agency/producer surplus lines licenses. All you need to do is review the documents for accuracy and ensure the appropriate producer/licensee signs the dotted line. 

Ideally, ILSA’s surplus lines tax filing clients are also enrolled in our initial licensing and renewal programs. This allows the surplus lines tax filing team to have up-to-date and immediate access to the agency and designated producer’s license information. Our reporting queries automatically populate the scheduled reports based on the current information provided from the licensing/renewal departments. Not only does this ensure that renewals are processed timely, but also gives you the peace of mind that Surplus Lines reports are filed for all existing licenses.

Trust Our Experience
Since the addition of our Surplus Lines Tax Filing service in August 2005, ILSA has successfully completed more than 29,000 filings resulting in over $1 billion in premiums, and more than 12,000 reports resulting in over $37 million in taxes and fees paid to the states.

Please note: ILSA is not a “courtesy filing” service, rather a third party vendor that prepares and submits your surplus lines tax filings on your applicable licenses.  At this time ILSA can prepare Surplus Lines Tax Filings in all states except MS and TX.

If you would like to discuss Surplus Lines Tax Filings, please contact us at (254) 729-8002 and speak with Joyce King ext. 6122 (jking@ilsainc.com) or Wes Davis ext. 6131 (wdavis@ilsainc.com).